CVC Credit raised 379M euros in its third European CLO this year


CVC Credit Partners, whose global head of performing credit is Gretchen Bergstresser, prices its fifth collateralized loan obligation fund of 2020.

CVC Credit said Cordatus XIX raised 379 million euros. Like prior CLOs, it will primarily be comprised of broadly syndicated first lien senior secured notes. It is CVC Credit’s third European CLO this year, as the firm raised 290 million euros in June and 383 million euros in October. All told, it brings aggregate global issuance by the firm to $2 billion for 2020 and its total CLO assets to more than $17 billion.

In a statement, Gretchen said that “despite the challenging economic environment, we have continued to grow our CLO business in 2020.” She said it will be bringing its next U.S.-focused CLO to market “soon.”

Gretchen co-founded the firm’s U.S. CLO platform in 2005. CVC Credit is a part of investment firm CVC and focuses on performing loans, private debt and credit opportunities and special situations.

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